Mr BOWEN (McMahon) (14:51): My question's to the Treasurer. On Saturday, the Treasurer said ASIC and APRA have a case to answer as to how some of this conduct occurred on their watch. But in April 2016, when arguing against a banking royal commission, the now Treasurer said ASIC and APRA had 'stronger powers than a royal commission'. Why, two years after he said they had stronger powers than a royal commission, is the Treasurer now blaming the regulators and only now promising them more powers?